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for these massive spending cuts that would come at the end of the year if we go over the fiscal cliff. the white house saying they don't expect we will. they still hope it can be prevented, but they have to start planning. also, speaker of the house john boehner meeting with small business leaders on capitol hill where he reiterated some of his key points. again, just within the past hour. take a listen. >> business owners with us today are here to highlight president obama's demand to raise tax rates instead of cutting spending. his plan will hurt nearly 1 million small businesses around our country. that will affect hundreds of thousands of jobs. >> reporter: and guys, there are republicans here on capitol hill who are urging the speaker to cut a deal with the president. i talked to one of the earliest republicans to say, you know what, let's take a the president up on his offer to extend the bush tax cuts for everybody under $250,000 and at least take that uncertainty off the table and then continue to negotiate the rest to have later. some of the republicans are now coalessing around that vi
on the fiscal cliff is just being released. let's go to e-mailen j amon jav >> they say boehner is offering multi-step solution here, including what he's after is $800 billion in revenue through tax reform. that's obviously significantly less than the $1.6 trillion the president asked for his-n his initial offer last week. other details in this offer being reported by nbc. health savings of $600 billion. other mandatory savings of $300 billion. a revision to cpi of $200 billion. and further discretionary savings of $300 billion. guys, it looks like the horse trading is alive and well here in washington. now this offer being extended from the republicans. you can assume that the white house will not think this is enough tax revenue to go forward, but, of course, offers are being exchanged here so that's a sign negotiations are under way, guys. >> let's get into the details here. $600 billion in health savings. what does that mean for medicare? break it down in terms of where these savings come from. >> i wish i could. what we don't have here is a lot of detail hanging off this christmas tree
. always good to be here. >> good to see you again. let's start with the fiscal cliff issue. when it comes to higher taxes, you seem to disagree with house speaker boehner when he says raising taxes on the highest earners will hurt jobs. can you elaborate on that? >> i think what the speaker is saying quite correctly is you don't want to increase taxes on the job creators. the problem here is the 1986 act that equalized corporate and personal rates. so the most important thing is to have an internationally competitive corporate rate of 25% and a territorial tax system and then individuals who have been filing their businesses as s-corporations or pass-through corporations can incorporate and get that lower rate. they can negotiate on the individual rates. >> so you don't think the ordinary income, then, the 39.6% that we're talking about, in that case, would apply to small business. they would fall under the corporate tax rate. >> yes, exactly. people forget that until 1986, corporate and individual rates were separate. a big part of the '86 act was to equalize them. there's a big differen
picture on all of this. they're not going anywhere fast. fiscal cliff is important, but there's a lot of issues for the next several years that are going to be important to the treasury market. once his comments were made, equities got a little volatile. you can see that was it. the treasury traders pretty much stopped trading, and it's been light volume ever since. >> but one issue, i guess, isn't there so much room to disappoint this market? given the fact the it is moving so much on any commentary out of washington, if we go over the fiscal cliff by december 31, is there a big opportunity for this market to sell off? it doesn't seem like it's priced in that we go over. >> maria, if we go over the cliff, sure, we're going to have a reactionary selloff. when you look at the fed now talking about qe-4, economic statistics are getting better, not worse. europe is slow e lily resolving issues. >> that reverses in the first quarter if we go over the cliff. >> it depends how we go over. if we go over for a couple days and they get a deal, it's fine. if this thing really breaks down, sure,
Search Results 0 to 3 of about 4